Consultation on Town Council purchase of 3 New Street, Daventry

Consultation on Town Council purchase of 3 New Street, Daventry

Daventry Town Council wishes to consult with residents of Daventry on its proposal to take out a loan to fund the purchase of 3 New Street, Daventry, NN11 4BT.

3 New Street, Daventry has been the home of the Town Council since 2010, and through the services the Town Council provides it has become a prominent location for Town Council meetings, Town Council events, Daventry Museum and the Town Council's administrative functions.

Daventry Town Council currently leases 3 New Street, at a cost of £25,000 per year and if purchased, the Council will have to take out a loan, to be paid back over 25 years, at a cost of £17,785 per annum (costs are based on the current rates at the time of writing and are subject to change). This is a saving of £7215 per annum, and the Council will be acquiring an asset that can be let or sold to generate income.

The Town Council will not be increasing the council tax precept for the purpose of the loan.

If you are a Daventry Town Council tax payer we estimate the purchase of the building will reduce your council tax bill, on a band D property, by 0.85p per annum (note: the estimate is based on the current year tax base figure and excludes any other budget increases/reductions on the total Daventry Town Council tax figure).

Daventry Town Council want to hear your views. Please complete our survey here:

Write to: Daventry Town Council, 3 New Street, Daventry, NN11 4BT
Tel: 01327 301246

Consultation closing date: Wednesday 2nd October, 2019

Posted: Wed, 11 Sep 2019 11:00 by DTC Comms

Tags: Consultation, News